Thursday, February 19, 2015

New ATB poll finds: Albertans are keeping calm and moving on

Nick Ford, Economist, ATB Financial - From newspapers to TV screens, there's been heavy coverage of Albera's current and future economic landscape.  Politicians, hournalists and economists have all weighed in but how do Albertans feel about the current state of the economy? ATB Financial asked this question and others to gauge consumer sentiment in its brand new bi-weekly Ear to the Ground poll.

Despite news of oil's price struggles and a weakened loonie, 45% of the survey respondents view the current Alberta economy as strong with 27% of respondents perceiving our economy as weak.  There are sings of worry amongst Albertans however. Over a third of Albertans anticipate that the economy will be weaker six months from now compared to about a quarter who believe it will be stronger.

Click here to read more about the Albertans keeping calm and moving on.
From newspapers to TV screens, there’s been heavy coverage of Alberta’s current and future economic landscape. Politicians, journalists and economists have all weighed in but how do Albertans feel about the current state of the economy? ATB Financial asked this question and others to gauge consumer sentiment in its brand new bi-weekly Ear to the Ground poll.
Despite news of oil’s price struggles and a weakened loonie, 45 per cent of the survey respondents view the current Alberta economy as strong with 27 per cent of respondents perceiving our economy as weak. There are signs of worry amongst Albertans however. Over a third of Albertans anticipate that the economy will be weaker six months from now compared to about a quarter who believe it will be stronger.
Additionally, close to 40 per cent of Albertans express intent to delay major purchases such as a house or car. And, 45 per cent are reconsidering travel plans. In general, Albertans are waiting for the dust to settle before deciding to make any large-scale purchases. This is likely tied to market uncertainty and the concern the economy might weaken in the next six months.
In general, Albertans are relatively optimistic about our economy. The latest retail sales numbers indicate that spending is still well above where it was two years ago (see chart below). For now, Albertans will continue to trudge through the flurry of economic news stories.
ATB Financial’s most recent forecast projects that Alberta’s economy will grow by two per cent in 2015
- See more at: http://www.atb.com/learn/daily-economic-comment/Lists/Posts/Post.aspx?ID=743#sthash.XaP3l1JJ.ZPjadNtP.dpuf
From newspapers to TV screens, there’s been heavy coverage of Alberta’s current and future economic landscape. Politicians, journalists and economists have all weighed in but how do Albertans feel about the current state of the economy? ATB Financial asked this question and others to gauge consumer sentiment in its brand new bi-weekly Ear to the Ground poll.
Despite news of oil’s price struggles and a weakened loonie, 45 per cent of the survey respondents view the current Alberta economy as strong with 27 per cent of respondents perceiving our economy as weak. There are signs of worry amongst Albertans however. Over a third of Albertans anticipate that the economy will be weaker six months from now compared to about a quarter who believe it will be stronger.
Additionally, close to 40 per cent of Albertans express intent to delay major purchases such as a house or car. And, 45 per cent are reconsidering travel plans. In general, Albertans are waiting for the dust to settle before deciding to make any large-scale purchases. This is likely tied to market uncertainty and the concern the economy might weaken in the next six months.
In general, Albertans are relatively optimistic about our economy. The latest retail sales numbers indicate that spending is still well above where it was two years ago (see chart below). For now, Albertans will continue to trudge through the flurry of economic news stories.
ATB Financial’s most recent forecast projects that Alberta’s economy will grow by two per cent in 2015
- See more at: http://www.atb.com/learn/daily-economic-comment/Lists/Posts/Post.aspx?ID=743#sthash.XaP3l1JJ.ZPjadNtP.dpuf
From newspapers to TV screens, there’s been heavy coverage of Alberta’s current and future economic landscape. Politicians, journalists and economists have all weighed in but how do Albertans feel about the current state of the economy? ATB Financial asked this question and others to gauge consumer sentiment in its brand new bi-weekly Ear to the Ground poll.
Despite news of oil’s price struggles and a weakened loonie, 45 per cent of the survey respondents view the current Alberta economy as strong with 27 per cent of respondents perceiving our economy as weak. There are signs of worry amongst Albertans however. Over a third of Albertans anticipate that the economy will be weaker six months from now compared to about a quarter who believe it will be stronger.
Additionally, close to 40 per cent of Albertans express intent to delay major purchases such as a house or car. And, 45 per cent are reconsidering travel plans. In general, Albertans are waiting for the dust to settle before deciding to make any large-scale purchases. This is likely tied to market uncertainty and the concern the economy might weaken in the next six months.
In general, Albertans are relatively optimistic about our economy. The latest retail sales numbers indicate that spending is still well above where it was two years ago (see chart below). For now, Albertans will continue to trudge through the flurry of economic news stories.
ATB Financial’s most recent forecast projects that Alberta’s economy will grow by two per cent in 2015.
- See more at: http://www.atb.com/learn/daily-economic-comment/Lists/Posts/Post.aspx?ID=743#sthash.XaP3l1JJ.ZPjadNtP.dpuf
From newspapers to TV screens, there’s been heavy coverage of Alberta’s current and future economic landscape. Politicians, journalists and economists have all weighed in but how do Albertans feel about the current state of the economy? ATB Financial asked this question and others to gauge consumer sentiment in its brand new bi-weekly Ear to the Ground poll.
Despite news of oil’s price struggles and a weakened loonie, 45 per cent of the survey respondents view the current Alberta economy as strong with 27 per cent of respondents perceiving our economy as weak. There are signs of worry amongst Albertans however. Over a third of Albertans anticipate that the economy will be weaker six months from now compared to about a quarter who believe it will be stronger.
Additionally, close to 40 per cent of Albertans express intent to delay major purchases such as a house or car. And, 45 per cent are reconsidering travel plans. In general, Albertans are waiting for the dust to settle before deciding to make any large-scale purchases. This is likely tied to market uncertainty and the concern the economy might weaken in the next six months.
In general, Albertans are relatively optimistic about our economy. The latest retail sales numbers indicate that spending is still well above where it was two years ago (see chart below). For now, Albertans will continue to trudge through the flurry of economic news stories.
ATB Financial’s most recent forecast projects that Alberta’s economy will grow by two per cent in 2015.
- See more at: http://www.atb.com/learn/daily-economic-comment/Lists/Posts/Post.aspx?ID=743#sthash.XaP3l1JJ.ZPjadNtP.dpuf
From newspapers to TV screens, there’s been heavy coverage of Alberta’s current and future economic landscape. Politicians, journalists and economists have all weighed in but how do Albertans feel about the current state of the economy? ATB Financial asked this question and others to gauge consumer sentiment in its brand new bi-weekly Ear to the Ground poll.
Despite news of oil’s price struggles and a weakened loonie, 45 per cent of the survey respondents view the current Alberta economy as strong with 27 per cent of respondents perceiving our economy as weak. There are signs of worry amongst Albertans however. Over a third of Albertans anticipate that the economy will be weaker six months from now compared to about a quarter who believe it will be stronger.
Additionally, close to 40 per cent of Albertans express intent to delay major purchases such as a house or car. And, 45 per cent are reconsidering travel plans. In general, Albertans are waiting for the dust to settle before deciding to make any large-scale purchases. This is likely tied to market uncertainty and the concern the economy might weaken in the next six months.
In general, Albertans are relatively optimistic about our economy. The latest retail sales numbers indicate that spending is still well above where it was two years ago (see chart below). For now, Albertans will continue to trudge through the flurry of economic news stories.
ATB Financial’s most recent forecast projects that Alberta’s economy will grow by two per cent in 2015.
- See more at: http://www.atb.com/learn/daily-economic-comment/Lists/Posts/Post.aspx?ID=743#sthash.XaP3l1JJ.ZPjadNtP.dpuf

Wednesday, February 18, 2015

Why mortgage-hunting Canadians are turning to alternative lenders

OTTAWA -- Squeezed out by stricter bank regulations, a growing number of mortgage-hunting Canadians have been turning to non-traditional lenders to overcome borrowing hurdles like bad credit.

The proportion of mortgages given out by alternative institutions, other than banks or credit unions, remains small at roughly 2.2 per cent of the entire market, said a recent analysis by CIBC.

But their share of the overall mortgage market has grown from 0.8 per cent during the 2008-09 recession and is now expanding at a rate of about 25 per cent per year, says Benjamin Tal, deputy chief economist of CIBC World Markets.


Read more: http://www.ctvnews.ca/business/why-mortgage-hunting-canadians-are-turning-to-alternative-lenders-1.2211806#ixzz3S6x0ASfc

Monday, February 16, 2015

47 Finished Basement "Man Cave's"

Basements are often under-used spaces left for storage.  The growing popularity of the man cave idea is a great way to use what’s often a large space.  Yes, finishing a basement can be costly, but it doesn’t have to be.  You can also plan to do it in stages, starting with a basic design and improving on aesthetics and features over time.
The finished basement (and man caves) have humble beginnings consisting of a TV room or family room and maybe a game element such as a pool table.  Now they’re elaborate, expensive and loaded with all kinds of features and designed in various themes.

Click here to see a series of man cave designs to give you ideas for your ultimate finished basement.

Tuesday, February 10, 2015

The Oilfield's Biggest Supplier Tells Stakeholders To R-E-L-A-X

Orders for all of National Oilwell Varco (NOV) products have slowed sharply, the oilfield's biggest equipment supplier acknowledged on a conference call this morning.
NOV's customers (primarily the service and drilling contractors) are delaying the purchase of equipment and consumables. Instead of ordering new, the oil patch is raiding its spares and inventory to save cash - a standard early-downcycle play in the oilfield business.
Capital equipment packages from idled rigs (like top drives) are being cannibalized to upgrade the remaining contracted rigs and keep them going. Oilfield contractors are redirecting drill pipe, bits, shakers, and other kit rather than placing new orders. This means NOV will face much lower demand for its products this year.
While recognizing that 2015 will bring a severe downturn to his business, NOV's CEO Clay Williams stayed composed and confident while addressing his stakeholders on this morning's earnings conference call. He noted the six previous oilfield downturns he has navigated, and while falling backlog is beyond his control, he plans to manage the business quarter-to-quarter, reducing costs as utilization permits.

Click here to read more about NOV CEO Clay Williams opinion about the falling oil prices.

Monday, February 9, 2015

Oil racks up 9% gain over the past three sessions

(Market Watch) Crude-oil futures on Monday registered their third straight gain, rising by 9% over the three-session period, helped by a further drop in rig counts in the U.S. that suggests a supply glut that has been punishing oil prices over several months may be easing.

That fact as well as data pointing to lower global oil production, including the Organization of the Petroleum Exporting Countries’ move to slash 2015 estimates for non-OPEC oil supples, delivered a lift to crude oil.

Oil rockets up more than 8% in biggest one-day gain since 2012

Not sure if you noticed - Oil prices roared back from six-year lows on Jan 30, rocketing more than 8% as a record weekly decline in U.S. oil drilling fuelled a frenzy of short-covering. If you have not yet read this.... check it out by clicking here for more information.


Thursday, February 5, 2015

5 Mistakes You’re Making With Your Debt

There’s a reason that the average Canadian’s non-mortgage debt hit $28,853 in 2014 and that’s because it’s hard to pay off debt. It’s a long, slow process and there is zero tangible reward to it until you get to the very end and can proclaim yourself debt free. That said, paying off debt is an important part of personal finance, and is entirely worth it in the end. It doesn’t have to be all bad either, if you’re having a hard time paying off your debt, it might be because you’re making a few key mistakes.

Here are five big mistakes you might be making with your debt repayment: